The Bush administration's highest priority for its remaining three years is to control US federal spending and bring down the budget deficit, US Treasury Secretary John Snow has said. He said China's decision in July to break the renminbi**Q*
The era of the Big Three auto makers ended officially in Canada last month as their share of the Canadian market fell to less than 50 per cent for the first time.
The Big Three US carmakers, General Motors, Ford Motor and Daimler Chrysler, announced huge falls in domestic sales. While Japanese rivals nearly all produced sales rises in the US market.
Fed Chairman Alan Greenspan and his colleagues voted unanimously to boost the rate banks charge each other by a quarter-point, to 4 percent. It was the 12th increase of that size since the Fed began tightening credit in June 2004.
Wal-Mart, seeking a foothold in the world's second largest economy, said it would take a majority stake in loss-making Seiyu. The move raises the prospect that Wal-Mart will try to bring its style of low-cost megastores to Japan.
President Bush, who heads this week to an Americas trade summit in Argentina, admitted that his first-term push for a free trade zone from Alaska to Antarctica was all but dead.
One concern for the Fed is that the federal funds rate is no longer well below the so-called “neutral” level at which monetary policy neither restricts nor stimulates activity. But there does not yet appear to be a consensus on what should happen nex
Wow! Some people say a graph is worth a thousand words. Presenting the Military Industrial Complex President Eisenhower warned your daddy's about.
Germany will have to cut 42 billion dollars from the public budget by 2007 -- amounting to $1,620 for everyone with a job and paying social security after breaching rules limiting deficits to 3% of GDP.
Exxon Mobil Corp., the world's largest publicly traded oil company, dismissed a bid by a Chinese company King Win Laurel Ltd. to acquire it for $450 billion in cash.
[PDF] Seventy years ago, the U.S. Supreme Court said no to economic fascism in America. The trend toward bigger and ever-more intrusive government, unfortunately, was not stopped, but at the time prevented the institutionalizing of a Mussolini-
... Wal-Mart is a “corporate criminal.” Loni Hancock, a California legislator, asserts that Wal-Mart’s fortune “has been built on human misery.” A variety of critics have accused the company of engaging in questionable and exploitive practices....
GM said in the filing that the Securities and Exchange Commission is also probing "certain transactions" with parts supplier Delphi. The SEC wants to find out more about the obligations that GM, Delphi's former parent, will have to fund
Bush challenged Congress to rein in non-military spending to help foot the bill for disaster relief, and to act on stalled reform of federal retirement and healthcare benefits. "I encourage Congress to push the envelope when it comes to cutting
The subpoenas relate to GM's financial reporting for pension and other post-employment benefits, and transactions between the company and auto parts supplier Delphi Corp., and GM's recovery of various costs from suppliers and supplier price c
President Bush on Monday selected Ben Bernanke, chairman of the president's Council of Economic Advisers, to replace Alan Greenspan as Fed chairman. Bernanke and Greenspan differ on whether the Fed should set targets for inflation — Bernanke yes
He wants to curb inflation by establishing a system of target pricing —meaning the powerful Fed would essentially establish a suggested retail price for goods like gasoline. And people are buying stock!!!!
The Wave Principle says that action in the same direction as the one larger trend develops in five waves, while reaction against the one larger trend develops in three waves
NEW YORK (Reuters) - Potential buyers began circling Refco Inc. (NYSE:RFX - news) on Friday after the largest U.S. independent commodities brokerage shut down another major business as it battled for survival.
When David Rockefeller and Zbigniew Brzezinski founded the Trilateral Commission in 1973, the intent was to create a "New International Economic Order" (NIEO). To this end, they brought together 300 elite corporate, political and academic l
Ford lost $284 million (15 cents a share) on revenue of $40.9 billion in the third quarter, compared to a $266 million profit (15 cents) and revenue of $39.1 billion for the same period last year.
Oct. 18 (Bloomberg) -- U.S. producer prices rose in September by the most in 15 years as higher crude oil and gasoline prices stemming from Hurricane Katrina filtered through into increased costs for chemicals, steel and plastics.
The company also said that GM and the UAW will look at other options for additional ways to cut healthcare expenses.
The Labor Department also reported that the widely followed consumer price index for all urban consumers, rose 1.2 percent last month and 4.7 percent in the 12 months that ended in September. That was the biggest monthly rise since March, 1980, and t
An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense perhaps more clearly and subtly than many consistent defenders of laissez-faire that gold and economic freedom are in
The tab for the long-term promises the US Government has made to creditors, retirees, veterans and the poor amounts to US$43,000 billion, US$145,000 per US citizen, or US$350,000 for every full-time worker.
Chairman & CEO, Robert S. Miller, says Delphi collapse could 'fatally wound' GM; urges slashing workers' pay.
DETROIT (Reuters) - General Motors Corp. (GM.N: Quote, Profile, Research) shares fell sharply on Monday after the automaker warned that a bankruptcy filing over the weekend by auto parts giant Delphi Corp. (DPH.N: Quote, Profile, Research) could cost
The Dow drops...homebuilders take a hit...and yet the mood of the American people is still positive...and hallucinatory... The empire has lost its edge...we will be hammered by history...but imperial decline helps us get where we need to go...
Wachovia's Bryson puts the chance of outright recession, defined as two successive quarters of negative growth, at only 25 to 30 percent, but offered this caution: "I would agree that the risk of recession is greater today than it was a mont